Bill Black: Financial Regulations In Paralysis

The video discusses the concept of control fraud, where individuals in control of entities use them to commit fraud, particularly in the financial sector. It compares the responses to the savings and loan crisis and the 2008 financial crisis, highlighting the lack of prosecutions in the latter. The discussion covers regulatory failures, the role of the FBI, and the influence of political and economic ideologies on fraud detection and prosecution. The video also critiques the neoclassical economic approach to fraud and suggests potential changes with new leadership at the Federal Reserve.

Explain the significance of the term 'too big to prosecute' in the context of financial institutions.

What factors contributed to the decline in prosecutions for elite white-collar crimes over the years?

What lessons can be learned from the historical responses to financial fraud?

How has the perception of fraud changed among economists over time?